HomeMy WebLinkAboutAGENDA REPORT 1985 0903 CC REG ITEM 10G MOORPARKion
ALBERT PRIETO STEVEN KUENY
Mayor PF cAk, City Manager
JAMES D. WEAK CHERYL J. KANE
Mayor Pro Tem FAP." City Attorney
THOMAS C. FERGUSON ONO%j7y. NIALL FRITZ
Councilmember •
�.� Director of
DANNY A. WOOLARD � . Community
Councilmember oj = Development
LETA YANCY-SUTTON °�r� Jam` R. DENNIS DELTEIT
Councilmember City Engineer
DORIS D. BANKUS JOHN V. GILLESPIE
City Clerk Chief of Police
JOHN C. GEDNEY MEMORANDUM
City Treasurer
TO = The Honorable City Council
FROM = Steven Kueny, City Manager Y12
DATE = August 28, 1985
SUB�TECT = Loss Paying Fund
BACKGROUND:
As you know, the City has a $5,000.00 self-insured retention (SIR)
provision in its primary liability policy. The company providing the coverage,
Planet Insurance Company, has requested that the City establish a Loss Paying
Fund (reserve) for the purpose of having the funds available when needed
for payment of claims. The amount to be placed in the Loss Paying Fund is
$5,000.00. As any claims are paid, the Fund should be replenished to the
$5,000.00 amount.
RECOMMENDED ACTION:
1. Establish a Loss Paying Fund; and
2. Authorize appropriation of $5,000.00 from the General Fund Reserve
to the Loss Paying Fund.
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799 Moorpark Avenue Moorpark, California 93021 (805)529-6864